Innovate UK and the Government of India are to invest up to £3.4 million in collaborative industrial research and development projects that propose new commercial solutions to India’s clean-tech, healthcare and ICT sectors.
The aim of the competition is to bring together small to medium-sized companies, and/or larger businesses, research organisations, academics and other collaborators from India and the UK for the joint research and development of new solutions to key socio-economic challenges, in the form of innovative products, processes or services.
The principal market a project must consider is India. According to Innovate UK, projects must be collaborative, involving both UK and Indian participants with both a UK lead partner and an Indian lead partner.
On the UK side, the lead partner must be a business but other businesses or research organisations can collaborate as partners in the consortium. The lead partner in India must be a business.
Academic institutions, research hospitals, other R&D institutes that are headquartered and operate in India are encouraged to participate as co-investigators/partners.
Innovate UK states that mainly industrial research projects are expected to be funded, with the UK small or micro businesses receiving up to 70% of their eligible project costs, medium-sized businesses 60% and large businesses 50%.
The UK investment has been made possible through Newton Fund , managed by the Department for Business, Innovation and Skills.
The competition was opened for applicants on November 9, 2015, with the deadline set for April 20, 2016. UK applicants, however, must register by April 13, 2016.